ICE Announces Record Open Interest in Gasoil Futures; Strong Uptake of New Low Sulphur Contract Surpasses 2011 Record
By Business Wire News
By Business Wire News
Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that ICE Low Sulphur Gasoil futures reached record open interest of 723,246 contracts on June 1, 2015. The previous record of 721,784 contracts was set on February 23, 2011.
Earlier this year, ICE Futures Europe completed the transition of ICE Gasoil to a 10ppm low sulphur specification, to reflect the ongoing move in the underlying middle distillate markets towards low sulphur grades. Following the transition, ICE Gasoil was renamed ICE Low Sulphur Gasoil futures.
“ICE Gasoil’s all-time open interest record demonstrates the success of the transition to low sulphur gasoil implemented at the start of this year. ICE Low Sulphur Gasoil now provides the world’s leading benchmark for diesel and is the key reference point for refined product pricing around the world,” said David Peniket, President and Chief Operating Officer, ICE Futures Europe.”
In January, ICE Low Sulphur Gasoil futures also achieved consecutive daily volume records with 190,385 and 254,674 contracts traded on January 5 and 6, 2015.
About Intercontinental Exchange
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the SEC on February 5, 2015.
SOURCE: Intercontinental Exchange